Welcome to our dedicated page for Nextra Energy news (Ticker: NEE), a resource for investors and traders seeking the latest updates and insights on Nextra Energy stock.
NextEra Energy, Inc. (NYSE: NEE) is a leading American energy company headquartered in Juno Beach, Florida. With a generating capacity of approximately 58 gigawatts (GW), the company reported revenues exceeding $18 billion in 2020 and employs around 14,900 individuals across the United States and Canada. As the largest electric utility holding company by market capitalization, NextEra Energy is a significant player in the energy sector.
NextEra Energy's principal subsidiary, Florida Power & Light (FP&L), is the largest rate-regulated utility in Florida. FP&L serves nearly 6 million customer accounts, providing clean, affordable, and reliable electricity to over 12 million residents. It generates 34 GW of power, contributing roughly 70% of NextEra's consolidated operating earnings.
Another key segment of NextEra Energy is NextEra Energy Resources, the renewable energy sector. This division is the world's largest generator of renewable energy from wind and solar sources and a global leader in battery storage, boasting over 30 GW of generation capacity. The company’s portfolio includes diverse sources such as natural gas, nuclear, wind, and solar energy.
Recent achievements include the successful pricing of $1.0 billion in subordinated debentures by NextEra Energy Capital Holdings, a move aimed at funding investments in energy projects and repaying commercial paper obligations. Additionally, FP&L has secured regulatory approval for consecutive rate decreases, reflecting its commitment to lowering customer bills and maintaining affordability.
NextEra Energy is frequently recognized for its efforts in sustainability, corporate responsibility, ethics, and diversity. In 2023, it was ranked No. 1 in the electric and gas utilities industry in Fortune's list of 'World's Most Admired Companies' and was also noted for its contributions to global environmental goals. The company operates seven commercial nuclear power units across Florida, New Hampshire, and Wisconsin, generating emissions-free electricity.
NextEra Energy Partners (NYSE: NEP) has announced an upsized convertible equity portfolio financing agreement with KKR, increasing the financing by $150 million. This amendment, part of a 10-year agreement initiated in November 2020, will boost total proceeds to approximately $1.25 billion. The funds will help finance the acquisition of a 400-megawatt wind project portfolio. Adjusted EBITDA and cash available for distribution (CAFD) are projected to be at the upper end of previously announced ranges, supporting a distribution growth expectation of 12% to 15% annually through 2024.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of 'a' (Excellent) for Palms Insurance Company, Limited, with a stable outlook. This rating reflects Palms' strong balance sheet strength, adequate operating performance, and effective enterprise risk management. The company provides insurance primarily for the energy sector, with a solid capital position and excellent loss history. However, it faces potential volatility due to exposure to low-frequency, high-severity claims, particularly in its renewable energy coverage.
OPAL Fuels and NextEra Energy Marketing have announced plans to construct Minnesota's first landfill renewable natural gas (RNG) production facility. This facility will replace an existing power generation site at the Pine Bend Landfill and is projected to produce over 6 million gas gallon equivalents of RNG annually. The project aims to reduce carbon emissions significantly, equivalent to taking 435,000 cars off the road each year. Construction will create about 50-60 jobs, with completion expected in Q1 2022.
NextEra Energy, Inc. (NYSE: NEE) has released its first-quarter 2021 financial results, highlighting its position as a leader in clean energy. The webcast presentation led by CEO Jim Robo and CFO Rebecca Kujawa began at 9 a.m. ET. NextEra serves over 5.6 million customer accounts in Florida, operating the largest rate-regulated electric utility in the U.S. The company is recognized for its sustainability and has received accolades such as Fortune's 'World's Most Admired Companies' and the S&P Global Platts 2020 Energy Transition Award.
NextEra Energy Partners, LP (NYSE: NEP) has released its first-quarter 2021 financial results, available on its website. The partnership focuses on acquiring and managing clean energy projects for stable cash flows. An investor presentation discussing these results will be webcast live at 9 a.m. ET today. This session will include results from NextEra Energy, Inc. (NYSE: NEE). The firm is headquartered in Juno Beach, Florida, and operates a diverse portfolio of wind, solar, and natural gas projects across the U.S.
NextEra Energy Partners, LP (NYSE: NEP) has signed an agreement to acquire a 391-MW portfolio of wind assets in California and New Hampshire from Brookfield Renewable for $733 million. The acquisition includes four operational facilities with long-term contracts, enhancing NEP's portfolio diversity. The assets are expected to generate annual adjusted EBITDA and CAFD of approximately $63-$70 million starting from December 31, 2021. NEP anticipates its LP distributions to grow by 12%-15% through 2024. The deal awaits regulatory approvals and is expected to close in Q3 2021.
NextEra Energy, Inc. (NYSE: NEE) will report its first-quarter 2021 financial results before the NYSE opens on April 21, 2021. The results will be available on its website, with an advisory release via PR Newswire. A live investor presentation discussing these results will take place at 9 a.m. ET on the same day, including insights on NextEra Energy Partners, LP (NYSE: NEP). The financial results and accompanying slides will be downloadable from www.NextEraEnergy.com/FinancialResults starting at 7:30 a.m. ET.
NextEra Energy Partners, LP (NYSE: NEP) will release its first-quarter 2021 financial results before the NYSE opens on April 21, 2021. The results will be accessible via the company's website. A live webcast of the investor presentation will take place at 9 a.m. ET on the same day, during which the financial results of NextEra Energy, Inc. (NYSE: NEE) will also be discussed. Following the presentation, a replay will be available for 90 days. NextEra Energy Partners focuses on acquiring and managing contracted clean energy projects.
NextEra Energy Transmission, LLC has successfully acquired GridLiance Holdco, LP and GridLiance GP, LLC from Blackstone affiliates for approximately $660 million, including debt assumption. This acquisition aligns with NextEra's strategy to enhance its competitive transmission capabilities and integrate high-quality regulated assets. GridLiance brings around 700 miles of high-voltage transmission lines across six states, further strengthening NextEra's operations in renewable energy integration and electric grid reliability.
On March 19, 2021, NextEra Energy, Inc. (NEE) and NextEra Energy Partners, LP (NEP) announced their participation in upcoming investor meetings to discuss financial expectations. For 2021, NextEra Energy anticipates adjusted earnings per share between $2.40 and $2.54, with projected growth of 6% to 8% for 2022 and 2023. This translates to adjusted earnings per share expectations of $2.55 to $2.75 and $2.77 to $2.97, respectively. Additionally, NextEra Energy Partners expects a distribution per unit growth rate of 12% to 15% through at least 2024.
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